The finance firm Lendingkart in a recent collaboration with Kotak Mahindra Bank, Aditya Birla Financial Services and other institutions has raised 10 million dollars as fund for extending credit to its clients.
With the fresh funds, Lendingkart aims at widening its credit base to the Small and Medium Enterprises (SMEs) in the country. CEO and Co-Founder of Lendingkart, Harshvardhan Lunia, informed that the main focus of his organization is to enable a financially inclusive environment for the SMEs in the country.
He added that the collaboration with other banking firms for the funds will help Lendingkart realise its aim of empowering SMEs with the easy availability of the working capital.
The CEO mentioned that the Small and Medium Enterprises are important for the growth of the economy, yet in most of the cases, these enterprises aren’t supported with formal credit. Lendingkart aims at bridging this gap.
The financial startup Lendingkart is based in Ahmedabad, Bangalore and Mumbai and it extends its services to SMEs across the country through its online application procedure.